Wall Street brokerages expect Group 1 Automotive, Inc. (NYSE:GPI) to announce $2.80 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Group 1 Automotive’s earnings, with estimates ranging from $2.70 to $2.95. Group 1 Automotive posted earnings per share of $2.47 during the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The company is expected to report its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Group 1 Automotive will report full year earnings of $10.28 per share for the current financial year, with EPS estimates ranging from $10.10 to $10.73. For the next financial year, analysts expect that the business will report earnings of $10.79 per share, with EPS estimates ranging from $10.00 to $12.21. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.09. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.90%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm posted $2.45 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.
Several brokerages have commented on GPI. ValuEngine upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley raised their target price on shares of Group 1 Automotive from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Group 1 Automotive presently has an average rating of “Buy” and a consensus price target of $83.80.
Shares of GPI traded down $0.93 during midday trading on Friday, hitting $86.86. The stock had a trading volume of 198,633 shares, compared to its average volume of 170,442. Group 1 Automotive has a fifty-two week low of $48.69 and a fifty-two week high of $89.85. The business has a 50-day simple moving average of $79.65 and a two-hundred day simple moving average of $74.84. The firm has a market cap of $1.62 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.78. The company has a current ratio of 1.01, a quick ratio of 0.24 and a debt-to-equity ratio of 1.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.29%. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) is presently 12.57%.
In other Group 1 Automotive news, insider Frank Grese sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $78.45, for a total value of $392,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daryl Kenningham sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.05, for a total transaction of $783,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,200 shares of company stock valued at $2,063,100. Corporate insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GPI. Invesco Ltd. lifted its position in shares of Group 1 Automotive by 78.6% in the second quarter. Invesco Ltd. now owns 163,449 shares of the company’s stock worth $13,385,000 after purchasing an additional 71,908 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Group 1 Automotive in the second quarter worth approximately $5,485,000. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Group 1 Automotive by 65.9% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 156,889 shares of the company’s stock worth $12,848,000 after purchasing an additional 62,300 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Group 1 Automotive by 899.0% in the second quarter. Victory Capital Management Inc. now owns 66,822 shares of the company’s stock worth $5,472,000 after purchasing an additional 60,133 shares in the last quarter. Finally, 361 Capital LLC purchased a new stake in shares of Group 1 Automotive in the second quarter worth approximately $2,793,000. 99.96% of the stock is owned by institutional investors and hedge funds.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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